Rents in Abu Dhabi decrease marginally

Residential rents in Abu Dhabi have remained stable in Abu Dhabi during the third quarter of the year, and have only declined marginally, according to a report issued by real estate consultants Landmark Advisory.

“Low quality units continue to be the worst performing assets. Declines, however, are largely marginal, which indicates rental stabilization,” Jesse Downs, director of Research, Landmark Advisory said in the release. “In the apartment segment, while low quality units have declined up to 5 percent, good quality units remained without any significant change.”

According to the report, apartment rents in older buildings in the capital are likely to decrease during the fourth quarter of the year, because of the availability of villas and ‘off-island’ living options.